8 Restrictions on appointment of auditors.E+W+S
(1)None of the following persons shall be appointed as auditor of a society—
(a)an officer or servant of the society;
(b)a person who is a partner of or in the employment of, or who employs, an officer or servant of the society; or
F1(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)A person shall also not be appointed as auditor of an industrial and provident society if—
(a)his appointment as auditor of any other industrial and provident society—
(i)which is a subsidiary of that society, or
(ii)of which that society is a subsidiary, or
(iii)which is a subsidiary of the society of which that society is a subsidiary,
is prohibited by virtue of the last preceding subsection; or
[F2(b)he is by virtue of section 27 of the Companies Act 1989 ineligible for appointment as auditor of a company which is a subsidiary of that society.]
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)Any appointment made by a society in contravention of any of those provisions shall not be an effective appointment for the purposes of this Act.
(5)In this section “company” has the same meaning as in section 15 of this Act and references to an officer or servant shall be construed as not including an auditor.
Textual Amendments
F1S. 8(1)(c) and (3) deleted (1.10.1991) by S.I. 1991/1997, reg. 2, Sch. para. 20(3)(a)(with reg. 4)
F2S. 8(2)(b) substituted (1.10.1991) by S.I. 1991/1997, reg. 2, Sch. para. 20(3)(b)(with reg. 4)